China's imports and exports of services total US$507 billion

According to the Trade and Development Report 2023 prepared by the Ministry of Commerce of China, country's services trade shows steady growth, innovation, and structure optimisation. This is reported by China.com, a partner of TV BRICS.

In 2023, the scale of China's services trade increased significantly, and regional development became more coordinated. International cooperation in services also continues to deepen. All these are conducive to the development of foreign trade and high-quality economic growth.

In recent years, China has been actively working to build a new open economy system. Comprehensive pilot demonstrations have been launched in 13 sectors, including science and technology, telecommunications, cultural tourism, and finance, to expand and open up the national service industry. A total of more than 1,300 pilot initiatives have been launched.

China's Assistant Commerce Minister Tang Wenhong said that in the first half of the year, the scale of China's services trade totalled US$507 billion, up 14 per cent year-on-year.

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